ASTM E-2018 GUIDELINES HIGHLIGHTS
Scope

Purpose—The ASTM E
2018 guideline defines good commercial and customary practice in the United
States of America for conducting a baseline property condition assessment
(PCA) of the improvements located on a parcel of commercial real estate by
performing a walk-through survey and conducting research as outlined within this
guide.

Physical Deficiencies—The
ASTM E 2018 guideline defines good commercial and customary practices for
conducting a baseline PCA, the goal is to identify and communicate physical
deficiencies to a user. The term physical deficiencies means the presence of
conspicuous defects or material deferred maintenance of a subject property’s
material systems, components, or equipment as observed during the field
observer’s walk-through survey. This definition specifically excludes
deficiencies that may be remedied with routine maintenance, miscellaneous minor
repairs, normal operating maintenance, etc., and excludes de minimis conditions
that generally do not present material physical deficiencies of the subject
property.

Walk-Through Survey—
The ASTM E 2018 guideline outlines procedures for conducting a walk-through
survey to identify the subject property’s material physical deficiencies, and
recommends various systems, components, and equipment that should be observed by
the field observer and reported in the property condition report (PCR).

Document Reviews and
Interviews—
The ASTM E 2018 guideline includes procedures for document reviews, research,
and interviews to augment the walk-through survey so as to assist the
consultant’s understanding of the subject property and identification of
physical deficiencies.

Property Condition Report—The
work product resulting from completing a PCA in accordance with the ASTM E 2018
guidelines is a PCR. The PCR incorporates the information obtained during the
Walk-Through Survey, the Document Review and Interviews sections of this guide,
and includes opinions of probable costs for suggested remedies of the physical
deficiencies identified.

Objectives—Objectives
in the development of the ASTM E 2018 Standards are: (1) define good commercial and
customary practice for the PCA of primary commercial real estate improvements;
(2) facilitate consistent and
pertinent content in PCRs; (3) develop practical and
reasonable recommendations and expectations for site observations, document
reviews and research associated with conducting PCAs and preparing PCRs; (4) establish reasonable
expectations for PCRs; (5) assist in developing an
industry baseline standard of care for appropriate observations and research;
and (6) recommend protocols
for consultants for communicating observations, opinions, and recommendations in
a manner meaningful to the user.

Multiple Buildings—Should
the subject property consist of multiple buildings, it is the intent of this
guide that only a single PCR be produced by the consultant to report on all of
the buildings on the subject property.